This is a trend following analysis using a breakout entry formation that generally has the greatest results. This analysis is good for 4H trading, but can also be used on almost all time frames and on all pairs. Basically, this analysis is based on breakout and certain forms of reversals. The analysis seeks to highlight potential breakout setups that can result in higher reward. To ensure consistent successful trades, the trader should exercise some degree of patience and wait for the perfect set up to execute trades. There’re are several types of breakouts, I only focus on two types of breakouts, trend line breakout and double top/triple top/ bottom breakout. Even with the two, I only trade double top/ triple bottom breakout most of the times and trend line breakout at some other times. Double top/Triple top/ bottom breakout is more dependable and reliable than the other. Note, trend line breakout includes also breaks that occur out of various shapes such as wedges, channels, triangles, and all the other shapes part from rectangles. Below are the simple sketches of some of the breakout setups I’ll be focusing on.
Technical observation Last week EUR rose against the US dollar and is still showing signs of moving up towards the zone 1.1465-1.1401, however, I expect a loss of this upward movement within the zone for bearish price rally towards the key line 1.0806 followed by a possible break below it. My advi
Technical observation On the weekly chart above price went below a key supportive line 1.2578 with a big red candle two weeks ago and last week this pair rose to the just broken line but could not penetrate above it, right now I expect downward movements of GBP towards the line 1.1533 followed by
Technical observation On the 4- hour chart above USD declined to the supportive line 107.78 but could not penetrate below It. Right now it is retracing to the resistance zone 108.68-108.58 and I expect a bounce within it for bearish rally towards 107.78, my advice, wait for a correction to 108.68-